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Morinaga Milk Industry CoTSE:2264 +0.30%70 Cyclically Adjusted PB Ratio is 1.90 as of Aug. 06, 2026, which is 19% above its 10-year median of 1.60. GuruFocus rates TSE:2264 with a GF Score™ of 70/100 and a GF Value™ of 円888.80 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,416 Consumer Packaged Goods companies, Morinaga Milk Industry Co ranks worse than 68.43% on this metric.
The historical rank and industry rank for Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
TSE:2264'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.11 Med: 1.6 Max: 2.46
Current: 2.07
During the past years, Morinaga Milk Industry Co's highest Cyclically Adjusted PB Ratio was 2.46. The lowest was 1.11. And the median was 1.60.
TSE:2264's Cyclically Adjusted PB Ratio is ranked worse than 68.43% of 1416
companies
in the Consumer Packaged Goods industry
Industry Median: 1.25
vs TSE:2264: 2.07
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Morinaga Milk Industry Co's adjusted book value per share data for the three months ended in Mar. 2026 was 円851.221. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is 円614.46 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Morinaga Milk Industry Co (TSE:2264) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Related Terms
Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Chart
TSE:2264 vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison
For the Packaged Foods subindustry, Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Morinaga Milk Industry Co Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio falls into.
Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 1.90 mean?
Morinaga Milk Industry Co (TSE:2264) has a Cyclically Adjusted PB Ratio of 1.90 as of Aug. 06, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Morinaga Milk Industry Co and its competitors. This is 19% above median its historical median of 1.60. Over the past decade, Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio has ranged from 1.11 to 2.46. According to the industry distribution chart, Morinaga Milk Industry Co ranks #969 out of 1416 companies in the Consumer Packaged Goods industry, placing it in the top 68.4%.
Is Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio too high?
Morinaga Milk Industry Co's current Cyclically Adjusted PB Ratio of 1.90 is 19% above median its 10-year median of 1.60. Over the past 10 years, this metric has ranged from a low of 1.11 to a high of 2.46. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.25. Morinaga Milk Industry Co's value of 1.90 is 52% above this industry median. Based on the distribution chart, Morinaga Milk Industry Co ranks #969 out of 1416 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Morinaga Milk Industry Co has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Morinaga Milk Industry Co ranks #969 out of 1416 companies for Cyclically Adjusted PB Ratio. This places Morinaga Milk Industry Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. Morinaga Milk Industry Co's value of 1.90 is 52% above this benchmark. Historically, Morinaga Milk Industry Co's own Cyclically Adjusted PB Ratio has ranged from 1.11 to 2.46 over the past decade. While the company's 10-year median is 1.60 vs. the industry median of 1.25, Morinaga Milk Industry Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.25, based on 1,416 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morinaga Milk Industry Co's current Cyclically Adjusted PB Ratio of 1.90 is 52% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Morinaga Milk Industry Co and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morinaga Milk Industry Co's current Cyclically Adjusted PB Ratio is 1.90, which is 19% above median its own 10-year median of 1.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morinaga Milk Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Morinaga Milk Industry Co (TSE:2264) is currently considered Significantly Overvalued. The stock's GF Value™ is 円888.80, compared to a current price of 円1,166.00 — trading 31.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.90, which is 19% above median its 10-year median of 1.60 and 52% above the Consumer Packaged Goods industry median of 1.25. Morinaga Milk Industry Co's overall GF Score™ is 70/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Morinaga Milk Industry Co (TSE:2264), the current Cyclically Adjusted PB Ratio is 1.90 as of Aug. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Morinaga Milk Industry Co (TSE:2264) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga Milk Industry Co stock appears to be overvalued.
The current stock price of 円1,166.00 is trading 31.2% above its estimated GF Value™ of 円888.80.
GuruFocus considers Morinaga Milk Industry Co to be Significantly Overvalued.
Key valuation signals for TSE:2264:
Cyclically Adjusted PB Ratio: 1.90 (19% above median its 10-year median of 1.60)
GF Value™: 円888.80 vs. price of 円1,166.00 (31.2% above fair value)
Industry Position: 52% above the Consumer Packaged Goods median (#969 of 1416)
No single metric tells the full story. See the TSE:2264 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morinaga Milk Industry Co Ltd is a Japanese company engaged in the production and distribution of dairy products. It produces a variety of milk and milk-based products such as dairy-based beverages, yogurt, desserts, condensed milk, powdered milk, butter, cheese, ice cream, clinical liquid diets. It also manufactures and sells animal feed, and constructs plant equipment. The company through its subsidiaries markets its products internationally.
70GF Score
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